Business Plan of Cinema

1937 WordsNov 7, 20118 Pages
2.0 Company Description/Overview 2.1 Name The name of our company is Lucky 7 Cinema. The company is named after the 7 partners consisting of Yew Jian Haou, Yew Jian Ren, Joseph Loh Wai Seng, Vincent Pang Loon Wen, Ngan Khee Jun, Chew Ming Soon and Yap Joe Fu. 2.2 Location We have chosen Subang Avenue to open our Lucky 7 4D cinema. Subang Avenue is a place full of generation Y-ers as well as teenagers. There are many colleges and schools around this area making it a very strategic location. 2.3 History The idea of a 4D cinema came about at year 2011 because we thought that the cinemas in Malaysia are not providing the best facilities and services for the customers. We believe Lucky 7 Cinema can provide better facilities…show more content…
Consumer needs and wants may change with age therefore we promote our service based on age group. 5.2 Targeting We noticed that almost all of the baby boomers who are currently 47-65 years old do not spend their time in cinemas, generation X-ers who are currently 33-46 years old spend less than an hour averagely in cinemas and generation Y-ers who are currently 14-32 years old spend at least 3 hours in cinemas in a week. According to the research we have done, teenagers like to enjoy the environment, sound system, and the 3D service in cinemas. Besides that, generation Y-ers are more willing to pay and try for new stuff compared to the other 2 groups. We believe that our cinema which provides 4D services are able to reach the needs and wants from generation Y-ers and therefore decided to target generation Y-ers as potential customers for our business. 5.3 Positioning Positioning involves developing a marketing mix the targeted segment, so that we are able to know the position of our own firm and compete with other firms in the industry. The way to think of a marketing mix is using the 4P’s framework. 5.4 Marketing Mix 5.4.1 Price The price of the movie ticket are slightly more expensive than Genting’s price but when compared to the duration of the movie and advantages we believe that consumers are willing to pay for it as
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